ACC 407 - Governmental and Not-for-Profit Accounting (3 units)
Accounting for governmental and not-for-profit enterprises, including municipalities, hospitals and universities. Specific topics include fund accounting, financial statement preparation and basic auditing issues.
Per university policy this course may be repeated only once for credit.
Prerequisite(s): ACC 401 with a “C” or better or ACC 601 with a “C” or better or ACC 402 with a “C” or better or ACC 602 with a “C” or better.
Units of Lecture: 3
Offered: Every Spring
Student Learning Outcomes:
Upon completion of this course:
1. Students will be able to identify the characteristics than distinguish governments and not-for-profit organizations (NFPs) from businesses.
2. Students will be able to identify the standard setting bodies and their authority to set GAAP for business entities, state and local governments, the federal government, and NFPs.
3. Students will be able to identify and use the differences in GAAP for business, governmental and NFP entities to record transactions and prepare financial statements.
4. Students will be able to identify and use the basic fund types of governments and of NFP to prepare the basic fund financial statements and the entity-wide statements.
5. Students will be able to demonstrate knowledge of the components of a Comprehensive Annual Financial Report.
6. Students will be able to use ratio analysis to analyze a government’s and a NFP’s financial condition.
7. Students will be able to identify the primary differences between auditing in the government and not-for-profit sectors and in the business sector.
Click here for course scheduling information. | Check course textbook information
Add to Portfolio (opens a new window)
|